The Ronan-related companies sought damages for breach of contract, unlawful interference with contractual relations and/or inducing breach of contract and/or negligence and/or breach of duty. Photograph: CollinsA company of Johnny Ronan’s RGRE Group will only have to provide security for legal costs up to a certain point for a case it is taking against the Fortress Investment Group, the Commercial Court ruled.
Collir and CF Troy are both indirectly owned by funds managed or advised by affiliates of Fortress which has financed some €1 billion worth of commercial property projects. On Wednesday, Mr Justice McDonald was urged by Michael Cush SC, for the last remaining plaintiff, not to impose a security for costs order on grounds including that it could stifle the litigation and also because of a delay in bringing the security application.
Mr Justice McDonald ruled that the possibility of stifling litigation was ever present in a security for costs application.